The dollar ($UUP) is at an important level.
After having raced to another higher high we have seen price come back sharply after the Go Countertrend Correction Icon (red arrow). A succession of aqua “Go” bars has followed. This has seen price drop quickly to test the last prior high. GoNoGo Oscillator has also fallen sharply to test the zero line. As it remains at zero for a second bar, the beginnings of a GoNoGo Squeeze grid appears. We will watch to see if the oscillator finds support at zero or if this correction is the start of something more destructive. If support is found, and GoNoGo Oscillator breaks out of the GoNoGo Squeeze into positive territory, we will see a Go Trend Continuation Icon (green circle) appear under the price bar, indicating that momentum is returned in the direction of the “Go” trend.
